"The State is under financial pressure because of the level of indebtedness"
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Loading... - James Kipngetich
- 21 Sep 2022
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The State of Senegal is today under financial stress because of the level of indebtedness which is around 68%. To deal with this situation, the government of Macky Sall plans to sell off the land to make a financial health in order to be able to have investment to finance the projects in progress.
“In terms of debt, what is important is not the rate. There are countries that are 100% indebted. Many developed countries have exceeded the 60% mark set in Europe. In a policy, what is important is that the indebtedness is effective”. This is the opinion of the economist and writer El Hadji Mansour Samb. “Even if a country goes into debt over 10 thousand billion, they have to be productive and people can feel it. When the Senegalese don't feel it, it's a problem, ”he argues.
He also notes that Senegal's debt situation has deteriorated with a rate that is around 68%. “From 34% debt ratio in 2012, we have gone to 68% in 2022. We are now moving to the category of countries with moderate debt risk. The situation has not yet deteriorated completely, because Senegal is not yet a sub-programme of the International Monetary Fund (IMF). So the state is under financial stress today because of the level of indebtedness, ”he says.
According to M Samb, this situation of tension pushes the government of Macky Sall to sell off the land to make some money. "The land heritage that is there belongs to future generations. Education and health are sectors where a lot of scientific progress will be made. This will still require buildings. It is for this reason that we leave a lot of empty space in universities and hospitals. To have a third term Macky Sall insisted a lot on investments, ”he underlines. Read More…
